Saudi Arabia is in early negotiations to secure a new loan worth at least $8 billion.

According to people familiar with the matter cited by Bloomberg, Saudi Arabia’s National Debt Management Center has begun a survey of banks about such a deal.

According to some of those same people, Aramco also has similar discussions with banks.

According to a report by Crypto Briefing, Saudi Arabia has asked international banks to submit their proposals for a U.S. dollar syndicated loan in the range of $6 billion to $8 billion.